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New Zealand Gazette – 1999 – No. 112

Page 2671

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✨ Financial Statements

7 SEPTEMBER NEW ZEALAND GAZETTE 2671

THE LINES COMPANY LIMITED

(formerly Waitomo Energy Services Limited)

Line Business Activity

Notes to the Financial Statements

For the Year Ended 31st March 1999

NOTE 2: TRANSFER PAYMENTS

| | 1999
| | $000
| Payments by Line Business to “Other” for: |
| Meter Data | 49
| Permanent Disconnection/Reconnection Services | 4
| Asset Maintenance Services | 1,616
| Other | 145
| | 1,814

Expense to non-related entities for:
| Asset Maintenance Services | 226
| | 226

Related Party Transactions

(a) Meter Data, Permanent Disconnection/Reconnection services and a majority of Asset maintenance Services are carried out by the “Other” Business Activities of The Lines Company Limited. Both parties are 100% owned by The Lines Company Limited.

(b) Meter Data Services involves reading meters and electronically loading the information into the financial system so that customers can be billed.

The Meter Data Services costs are set at $40 per meter round for:

$0.85 per meter reading for Urban customers.
$2.00 per meter reading for Rural Customers.
$2.50 per meter reading for remote customers.
$2.50 per meter reading for customers with internal meters.

(c) Permanent Disconnection or Reconnection are charged at $15.00 per Disconnection or Reconnection plus $9 per 15 minutes.

(d) Asset Maintenance Services are carried out by Lines Maintenance Teams, Electricians and Technicians. The labour charge out rate depends on the employment contract the individuals carrying out the work are on. An oncost is added to cover administration costs.

The rates are as follows (inclusive of oncost):

Lines Maintenance $17.37 - $21.16 per hour.
Electricians $21.63 - $22.61 per hour.
Technicians $17.95 - $30.21 per hour.

Plant & Vehicle charge out rate ranges from $10.71 - $16.31 per hour.

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VUW Te Waharoa — NZ Gazette 1999, No 112

NZLII — NZ Gazette 1999, No 112

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for The Lines Company Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Transfer Payments, Related Party Transactions, Meter Data, Asset Maintenance

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